Karachi business community set to launch ‘Air Karachi’

The business community of Karachi has announced the launch of a new airline, “Air Karachi.”

According to ARY News, businessman Hanif Gohar revealed that the airline has been registered with the Securities and Exchange Commission of Pakistan (SECP), and an application for a license has been submitted to the federal government.

Initially, Air Karachi plans to lease three aircraft, with retired Air Vice Marshal Imran, formerly of the Southern Command, appointed as the airline’s CEO. Hanif Gohar also disclosed that the project is backed by an investment of Rs 5 billion, with each shareholder contributing Rs 50 million.

It is worth mentioning that in September 2024, the Civil Aviation Authority (CAA) reported interest from several new local airlines, including Jet Green, Q Airways, and Go Green Air, seeking licenses to begin operations in various cities across Pakistan.

Meanwhile, Pakistan International Airlines (PIA), the national flag carrier, received only a Rs 10 billion ($36 million) bid from real estate company Blue World City in its unsuccessful privatization attempt. As part of economic reforms under a $7 billion, 37-month bailout deal with the International Monetary Fund (IMF), Islamabad plans to sell over 51% of its stake in the loss-making airline.